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    Stocks in the news: RIL, Titan, Kotak Mahindra Bank, Sun Pharma, Dabur India and Max Financial

    Synopsis

    Here are a few stocks which may create some buzz in Wednesday’s trade.

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    Kotak Mahindra Bank has set a floor price of Rs 1,147.75 per share for the offering.

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    NEW DELHI: Nifty futures on the Singapore Exchange traded 29.50 points, or 0.32 per cent lower at 9,047.50 in signs that Dalal Street was headed for a negative start on Wednesday. Here are a few stocks which may create some buzz in today’s trade:

    Sun Pharma, Dabur India and Quess Corp: Dabur, Heritage Foods, India Grid Trust, Aditya Birla Fashion, Compucom Software, Sun Pharmaceutical, Quess Corp, JP Associates, Ujjivan Financial Services and Vaibhav Global are slated to report their March quarter results on Wednesday.

    Reliance Industries: The Mukesh Ambani-led company is working with banks on early preparations for an overseas listing of its digital and wireless business, people with knowledge of the matter said, after the unit attracted more than $10 billion of investment in a month.

    Kotak Mahindra Bank: The private sector lender on Tuesday launched qualified institutional placement offering to raise up to Rs 7,500 crore. Kotak Mahindra Bank has set a floor price of Rs 1,147.75 per share for the offering.

    Axis Bank: Almost three years after it got a $1.8 billion “confidence capital” boost, India's third-largest private lender has initiated discussions with private equity group Carlyle for a fund infusion as rising systemic level stress and the economic slowdown are forcing banks and shadow lenders to build provision buffers to tackle future asset slippages.

    Bharti Airtel: Bharti Telecom Limited (BTL), promoter company of Bharti Airtel, has raised Rs 8,433 crore ($1.15 billion) by selling 2.75% stake in the operator to a clutch of overseas investors such as Blackrock, Fidelity, Segantii Capital, Norges Bank and Key Square Capital, and local fund houses including HDFC Mutual Fund and SBI Mutual Fund.

    Blue Dart: Logistics player Blue Dart Express on Tuesday reported a consolidated net loss of Rs 30.57 crore in the March quarter, hit by the nationwide lockdown induced by COVID-19. The company had posted a net profit of Rs 12.24 crore in the January-March quarter a year ago, the company said in a BSE filing.

    PFC: Power Finance Corporation said it entered into an agreement with Narmada Basin Projects Company Ltd (NBPCL), a wholly-owned company of government of Madhya Pradesh, to fund projects worth Rs 22,000 crore.

    Newgen Software: IT company Newgen Software reported 34 per cent decline in consolidated profit to Rs 41.5 crore in the fourth quarter ended March 31, due to restrictions imposed across several geographies to curb COVID-19. The company had recorded profit after tax of Rs 62.5 crore in the same period a year ago.

    Deepak Nitrite: The company reported a 88 per cent increase in consolidated net profit at Rs 172.3 crore for the quarter ended March. Its net profit stood at Rs 91.46 crore in the year-ago period, the company said in a regulatory filing.

    Infosys: The IT major said it has partnered Zurich-based Avaloq to provide end-to-end (e2e) wealth management capabilities through digital platforms. Infosys will be a strategic implementation partner for Avaloq's wealth management suite of solutions to help clients modernize and transform their legacy systems into cutting-edge digital advisory platforms, a statement said.

    Coal India: Coal India’s consultancy arm CMPDIL has been roped in by NTPC to make separate mining plans for Banai and Bhalumuda coal mines in Chhattisgarh with an aim to maximise the extractable reserves by merging operations of the two mines.

    Titan: In a regulatory update, Titan said that its operating cash flow was negative during the last months due to virtually zero sales during the first 6 weeks of lockdown, increase in mark-to-market cash outflow on gold hedge due to rising gold prices and committed costs being incurred.

    Max Financial Services: The company reported a steep 96 per cent plunge in consolidated profit after tax to Rs 6.67 crore for the January-March quarter 2020 due to the impact of a tax dispute settlement and the coronavirus pandemic. The company had registered a profit after tax of Rs 199.91 crore during the January-March quarter of the previous fiscal year.

    Torrent Pharmaceuticals: The drug maker reported a consolidated net profit of Rs 314 crore for the quarter ended March 31, mainly on account of cost control and productivity improvements. The company had posted a net loss of Rs 152 crore for the corresponding period of the previous financial year, Torrent Pharma said in a filing to the BSE.

    ITI: State-run electronic manufacturing firm ITI Limited on Tuesday said it has started manufacturing face shields, with a capacity to produce 5 lakh units per month.

    Shree Steel Wire Ropes: The company said its business has been adversely affected due to the lockdown and the exact impact of Covid-19 as of now is hard to ascertain. The company has paid salaries and wages to its staff and workers for the month of March and with a reduced percentage for the month of April. It intends to do the same for the month of May and June 2020. There is no revenue till date for the company.

    Jaiprakash Power Ventures: The company’s consolidated net loss narrowed to Rs 70.91 crore in March quarter. Net loss was Rs 245.30 crore in the fourth quarter previous fiscal.

    Asahi Infrastructure: Markets regulator Sebi on Tuesday slapped a fine of over Rs 11 crore on Asahi Infrastructure and Projects and its senior official in a matter related to manipulation in issuance of global depository receipts (GDR).
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    1 Comment on this Story

    Anup Jj50 days ago
    all these indian companies are getting sold to overseas investors and government is a mute spectator to this...
    The Economic Times